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Billionaire banking heir Matthew Mellon dies at 54

NEW YORK (AP) — Billionaire banking heir Matthew Mellon has died. He was 54.

His cousin Peter Stephaich confirmed Mellon's death but declined Tuesday to provide any details.

Mellon comes from the Mellon and Drexel families of Bank of New York Mellon and Drexel Burnham Lambert.

According to Mellon's Linked In account, he attended the Wharton School and later worked in fashion and finance, most recently gaining attention with investments in the digital currency payments network company Ripple Labs.

Mellon is survived by his first wife, fashion designer Tamara, his second wife, fashion designer Nicole Hanley, and his three children.